Foster Business Park

Bensenville, Illinois

117,000 SQUARE FEET

5 BUILDINGS

ASSET CLASS: Office/Industrial

IRR: 16.4% (Projected)

TOTAL EQUITY: $1,100,000

Foster Business Park is a 117,000-square-foot flex office/industrial park, comprised of five single-story buildings. The project was purchased in 1996 for $3,675,000 with a loan of $3,572,201. Since the purchase in 1996, all equity has been returned to the investors, and historical distributions total in excess of 200% of the initial investment. Following stabilization and lease-up of the project, it was refinanced in 2003 with a loan of $5,250,000. The project was subsequently refinanced in November 2014 as part of a five-building suburban Chicago portfolio and continues to outpace the market with occupancy at or in excess of 95%. In addition to the acquisition and syndication, American Landmark manages and leases the project.